Swedish asset manager Swedbank Robur has excluded the commercial gambling sector from its investments, effective 1 January.
The investor announced the move yesterday as part of a wider update on the strengthening of its policy for responsible investments.
“The continuous reviewing of our guidelines is an important part of our work. By sharpening and clarifying our policies and strategies step by step, we can also give our customers a greater understanding of how we work and what we as asset managers stand for,” said Pia Gisgård, Head of Sustainability and Corporate Governance at Swedbank Robur.
In its updated exclusion strategy, commercial gambling is referred to as “casino, bingo, poker, sports betting, odds and scratch cards – physical gambling and online and mobile phone gambling where the main purpose is gambling for money or the value of money. It